Tesla Inc (TSLA) Bear Calls Out Elon Musk: "Makes Trump Look Like An Angel"

Tesla Inc (NASDAQ:TSLA) has become America’s largest automaker by market cap despite failing to launch a single mass market vehicle.

The electric car company has issued enormous amounts of debt lately to fund its operations, and has largely gotten away with its money-losing practices due to the investing public buying ito CEO Elon Musk’s grand vision for an autonomous driving future.

Billionaire investor Ron Baron believes he can still generate 20 times his money on Tesla shares, but Gabe Hoffman of Candens Capital says such notions are “ridiculous.” CNBC has more commentary from Tesla’s biggest bear:

“Tesla already has a $50 billion diluted market cap. To say that it is going to $1 trillion is unbelievable.”
Hoffman said recently issued Tesla bonds are “trading in junk territory and will get downgraded to junk.”
He also said that the Model 3 will be a “complete disaster” both in quality and safety, and that autonomous cars are at least 10 years away, based on what he reads from autonomous technology engineers.
Hoffman said Musk is “full of it” on Tesla’s timeline for autonomous cars.
“Elon Musk makes Donald Trump look like an angel,” Hoffman said.

Hoffman has a vested interest in Tesla’s downfall. He holds TSLA’s largest short position, and thus stands to benefit greatly if the stock plunges.

Tesla Inc shares closed at $302.99 on Friday, unchanged on the day. Year-to-date, TSLA has gained 41.79%, versus a 17.11% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 24 stocks in the Auto & Vehicle Manufacturers category.

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